The “You’re a Beautiful” franchise of beauty salons across the country is being sold by private equity firm LendingClub to a California firm, according to a filing to the Securities and Exchange Commission.
The company said in the filing it intends to use its new ownership structure to acquire the businesses in Los Angeles, New York, Los Angeles and Las Vegas.
LendingClub owns The Beauty Shop in Beverly Hills, the LaLa Beauty salon in Beverly Grove, and The Beverly Hills Boutique in Beverly Highlands.
The Beverly Grove Boutique is owned by the family of the late actress and director Sharon Stone.
The Beverly Hills Beauty Salon is owned and operated by the Beverly Hills Foundation, which is owned 50 percent by Lending Club.
The LaLa salon is owned 25 percent by The Beverly Heights Foundation.
The Los Angeles salon, which was closed for three years, will be renamed LaLa Salon in honor of former actress Gwyneth Paltrow.
The new LA beauty salon will be called LaLa Bistro, the filing said.
Linking to the Lending Clubs website, the new LA boutique will say that the new location will open in late 2018 and offer a full array of the brand’s best-selling products and services, including its signature beauty products, haircuts, beauty supplies and salon services.
The LendingCo website also will state that the LA boutique “will serve the entire Los Angeles region and be a premier destination for Lending members.”
LendingCo is planning to use the proceeds of the sale to pay down debt and fund a capital campaign.
The LA boutique has not yet been named.